Government's Reaction on the Gulf Research Paper

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The bill will also raise the liability cap for companies from $75 million to $10 billion. Lawmakers may also consider raising taxes on the oil and gas industry. For example, the Oil Spill Liability Trust Fund tax will be raised from 8 cents per barrel to 45 cents. The fund which was created in the aftermath of the Alaskan Exxon-Valdez accident in 1989 helps in claims pays for financial or property losses that come about as a result of oil spills (Ray 187).

Defenders of Wildlife, strongly support expanded development of renewable energy sources. In doing this, there will be a reduction in the emission of greenhouse gases which contribute to global climate change eventually. Through generating power by the use of wind, solar and other renewable energy resources, there will be a reduction in the need for coal fired and nuclear powered plants which will in turn improve air quality and reduce the dangers that are associated with nuclear power and radioactive waste.

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The expansion of renewable energy resources in the U.S. will also help in the reduction of the country's dependence on fossil fuels and in turn, its dependence on oil exporting nations. The expansion of the use of renewable resources to enable the generation of heat electricity and replacing gasoline as automotive fuel has many advantages. It also brings about the recognition that even clean, renewable energy can have environmental impacts. The impacts include the land requirements for growing biomass energy or setting wind farms, the construction of new facilities and roads as well as other issues associated with the production and transmission of renewable energy.

In conclusion, BP is continuing to drill two relief wells to stop the Gulf oil spill, but they are not expected to be finished before August. Until the flow of the oil is stopped, some of the measures cannot be put into place.

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